The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Paladin Energy Ltd: Clarification of Disclosure in the Half Year Financial Statements

Wednesday, February 15, 2012

Paladin Energy Ltd: Clarification of Disclosure in the Half Year Financial Statements08:27 EST Wednesday, February 15, 2012PERTH, WESTERN AUSTRALIA--(Marketwire - Feb. 15, 2012) -Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") announces:Following the release of the 31 December 2011 Half Year Financial Statements, Paladin Energy Ltd would like to clarify a statement made on page 7 in relation to the production guidance range for the 2012 financial year.This paragraph refers to the decrease in Paladin's production guidance range to 7.1M to 7.4Mlb for the financial year ending June 2012. This was decreased from the original range of 7.4M to 7.9Mlb set in July 2011. This reduction was announced to the market in the Quarterly Activities Report for period ending 31 December 2011 and was repeated as a function of the half year disclosure as required.There has been no further adjustment to the production guidance range for financial year ending June 2012.The write down of the Kayelekera mine assets was similarly previously announced to the market with the September 2011 quarterly results. Since this time, there has been no further reduction in the US$337M carrying value of the Kayelekera mine assets.Yours faithfullyPaladin Energy LtdJOHN BORSHOFFManaging Director/CEOACN 061 681 098FOR FURTHER INFORMATION PLEASE CONTACT: Paladin Energy LtdIn Australia:John BorshoffManaging Director/CEO+61 8 9381 4366 or Mobile: +61 419 912 Energy LtdIn Canada:Greg TaylorInvestor Relations Contact+905 337-7673 or Mobile: +416 605-5120 (Toronto)